Luxury Goods Market to generate strong growth by 2014-2020

The demand for luxury goods is increasing due to rising disposable income. The products which are not essential to survive but which make life more pleasant for the consumer are called as luxury goods. Luxury goods are also called as superior goods. The growth of luxury goods market is directly proportional to the income elasticity. The way of purchasing luxury goods also affect the luxury goods market. Being able to recognize the right channel for marketing, purchasing way of luxury consumers and choose the beneficial way of shopping in-store vs. online will be a key focus for luxury brands going forward. These factors are strongly associated with the growth of luxury goods market.

The report includes the detailed competitive landscape of the global luxury goods market. It includes company market share analysis, the product portfolio of the major industry participants. The report provides detailed segmentation of the luxury goods market based on product segment and region. Luxury cars, luxury watches & jewelry, apparels and leather goods, luxury personal care & cosmetics, wines/champagne and spirits, fragrances and others (tableware, luxury pens etc.) are major product segments of luxury goods market. The apparel and leather goods segment was the leading product segment in 2014 and is expected to continue its dominance throughout the forecast period.

Major regional segments analyzed in this study include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. This report also provides further bifurcation of the region on the country level. Major countries analyzed in this reports are U.S., Germany, France, UK, China, Japan, India, and Brazil. Luxury goods market was dominated by Europe due to strong per capita expenditure on luxury goods. Europe is followed by North America. Increasing consumption of luxury goods in emerging economies such as China and India triggers the luxury goods market. Additionally, due to growing consumer disposable income and luxurious lifestyle is expected to exhibit the rapid growth of this market in Asia Pacific region.

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